Advantages and Disadvantages of a Partnership


	Advantages and Disadvantages of a Partnership
	Advantages Responsibilities and decision making are shared Continuity and support is possible. Several partners means that the business does not come to a stop if one partner is ill or takes a holiday Partners may have expertise in different aspects of the same area of business to be successful More finance is available because all partners can contribute More partners means more ideas, and more people to share the work More partners means more capital can be put into the business	Disadvantages Profits are shared The size of the business is limited by the total number of partners allowed (2-20) Partners have unlimited liability More finance is available because all of the partners can contribute Each partner is legally responsible for what all the other partners do More partners means more disagreements. There is not just one boss. If the partners disagree about which direction the business should go in and how much time to put in it can get unpleasant.
	Evaluation

Responsibilities and decision making are shared
Continuity and support is possible. Several partners means that the business does not come to a stop if one partner is ill or takes a holiday
Partners may have expertise in different aspects of the same area of business to be successful
More finance is available because all partners can contribute
More partners means more ideas, and more people to share the work
More partners means more capital can be put into the business

Profits are shared
The size of the business is limited by the total number of partners allowed (2-20)
Partners have unlimited liability
More finance is available because all of the partners can contribute
Each partner is legally responsible for what all the other partners do
More partners means more disagreements. There is not just one boss. If the partners disagree about which direction the business should go in and how much time to put in it can get unpleasant.

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